All Shoe Intelligence articles in Volume 24, Issue 13+14 – Page 2
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News briefs
Low-cost footwear to increase market share in Russia this year
This year, the Russian footwear market could face a 15-20 percent slump in sales in value and a 25-30 percent drop in volume, forecast Anush Gasparyan, commercial director of the Russian consultancy Fashion Consulting Group. The average price of shoes is set to rise by 30 percent year-on-year, pushing consumers ...
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News briefs
Turkish fashion retailers mull expansion in Russia
Several Turkish fashion brands such as adL, Mudo, LTB, Twist and İpekyol intend to enter the Russian market, taking advantage of the withdrawal of Western companies. The Russian newspaper Izvestia reported that Turkish groups have entered into negotiations with Russian shopping centers about opening their stores in the coming months. ...
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ArticleHow Dr. Martens is handling the refurbished market
With consumers starting to tighten their belts and seek value amid rising prices and inflation, the iconic British shoe and bootmaker Dr. Martens is looking to step into the refurbished product market with a trial repair and resale service. The company has teamed up with online secondhand clothing marketplace Depop, ...
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News briefs
Deichmann sells Russian business
The German shoe retailer Deichmann has left the Russian market, selling all 37 stores with remaining inventory to a local partner. No financial details were released. The Russian press reported that Deichmann had stopped supplying its Russian retail network several weeks before. The stores will reopen under a new brand ...
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ArticleZalando cuts its FY guidance again
Zalando has further cut its full-year guidance as macroeconomic conditions deteriorated in the second quarter. The company had already issued a profit-warning in May with the release of its first-quarter results, which included the first decline in quarterly sales of the history of the German online fashion retailer. For the ...
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News briefs
Germany faces ‘very difficult’ choices due to gas shortage
Germany faces gas shortages and will have to make “very difficult” choices for households and companies if Russian supplies continue to decline, warned the Economy Minister Robert Habeck. “We will have to close certain industrial activities…For some sectors it will be catastrophic. We aren’ talking about two days or two ...
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News briefs
U.K. consumer confidence at record low
Consumer confidence in the U.K. in June hit a new record low of -41, down from -40 in May and -9 in June 2021, according to data released by market research group GfK. “With prices rising faster than wages, and the prospect of strikes and spiralling inflation causing a summer ...
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News briefs
French footwear sales surge in May
Retail sales in France in May rose by 0.6 percent in volume from April on a calendar and seasonally adjusted basis with a 2.8 percent decline in food sales offset by a 1.8 percent increase in the sales of manufactured goods, according to data released by the Bank of France. ...
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News briefs
Boohoo names a new CFO
Boohoo has appointed Shaun McCabe as chief financial officer. He will succeed Neil Catto, who will become an executive director, remaining on the board of the British online fashion retailer, with responsibility for strategic projects. McCabe is expected to take up his new role later this year. Catto will remain ...
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News briefs
Nike pulls out of Russia
The U.S. sportswear company Nike is pulling out of the Russian market. The brand had already suspended its activity in the country on March 3 following Russia’s invasion of Ukraine on Feb. 24. In a statement, the brand said that it would not reopen the stores that it had closed ...
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News briefs
Frasers hikes stake in Hugo Boss
Frasers Group, the parent company of Sports Direct, has increased its investment in Hugo Boss. The company now has 3,425,000 shares of common stock in the German fashion group, representing 4.9 percent of its total share capital. It also holds 18,289,000 shares via the sale of put options, representing 26.0 ...
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ArticleEU to use trade agreements to promote sustainability
The European Commission said that it took ”a major step in making EU trade greener, fairer and more sustainable” thanks to a new plan to enhance the contribution of trade agreements in protecting the climate, environment and labor rights worldwide. In a communication on “The power of trade partnerships: together ...
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News briefs
Superfeet introduces hiking-specific Adapt insoles
Insoles manufacturer Superfeet has expanded the Adapt family of insoles by introducing Adapt Hike Max. Designed specifically for hiking, these insoles use the Adapt collection’s patented Adaptive Comfort Technology, and they are made with two layers of Superfeet’s Aerolyte foam. The Adapt Hike Max Insoles are the first hiking-focused insoles ...
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ArticleJD Sports’ FY earnings surge
In the full year ended Jan. 29, JD Sports Fashion’s basic earnings per ordinary share rose to 7.17 pence (8.4 euro cents) from 4.61 pence as revenue grew to £8.563 billion (€9.977 bn) from £6.167 billion. Adjusted earnings per ordinary share doubled to £12.84 pence (€14.90) from 6.44 pence. The ...
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ArticleC-Suite interview: Safety Jogger to launch a workwear collection in November
Safety Jogger, the leading brand of the Belgian footwear and apparel company Cortina, is diversifying into workwear after having entered the outdoor market with the Safety Jogger Adventure footwear collection launched in May. The workwear range, which will include 6,000 stock-keeping units (SKUs) of footwear, apparel and accessories, will be ...
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News briefs
Walmart has a controlling stake in AI robotics automation provider
The U.S. retailer Walmart has a 62.2 percent stake in Symbotic, a provider of artificial intelligence-enabled robotics automation technology, according to a filing with the US Securities and Exchange Commission. On June 8, Symbotic became a listed company on Nasdaq through a merger with the special purpose acquisition company SVF ...
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News briefs
The Natural Fibers Alliance calls for suspension of Higg Index
In the wake of the recent New York Times article “How fashion giants recast plastic as good for the planet,” the Natural Fibers Alliance (NFA) is campaigning for an immediate suspension of the use of the Higg Index. Since its implementation in 2012 by the Sustainable Apparel Coalition, the ...
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ArticlePrimark to trial a click-&-collect service in the U.K.
The clothing, shoe and accessories retailer Primark is making its first move into online shopping in the U.K., where it will trial a ‘click-and-collect’ service as it reported a sharp rise in third-quarter sales. The company, owned by Associated British Foods (ABF), is launching the trial at 25 stores in ...
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News briefs
Bata aims to double its Italian franchise network in 3 years
Bata, the Lausanne-based shoemaker plans to increase the number of its stores in franchising from about 90 currently to 200 by the end of 2024. The expansion of the network will focus on opening stores in the center of towns with a population of 40,000-80,000. The brand is also interested ...
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ArticleExpo Riva Schuh continues to expand its International reach
The summer edition of Expo Riva Schuh & Gardabags, which was held from June 11 to 14 in Riva del Garda, Italy, was a vibrant event and a throwback to the pre-pandemic days when trade shows were paramount in aggregating the footwear business community. Obviously, the trade fair continued to ...
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